Fifth Third Bancorp Boosts Stake in Zillow Group, Inc. $Z

Fifth Third Bancorp grew its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 19.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,405 shares of the financial services provider’s stock after acquiring an additional 226 shares during the period. Fifth Third Bancorp’s holdings in Zillow Group were worth $98,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in Z. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Zillow Group by 46.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,033 shares of the financial services provider’s stock worth $669,000 after acquiring an additional 2,879 shares during the period. GAMMA Investing LLC boosted its position in shares of Zillow Group by 10,025.5% in the 1st quarter. GAMMA Investing LLC now owns 41,616 shares of the financial services provider’s stock worth $2,853,000 after purchasing an additional 41,205 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Zillow Group by 141.8% in the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 984 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Zillow Group by 1.7% in the 1st quarter. Rhumbline Advisers now owns 182,624 shares of the financial services provider’s stock worth $12,521,000 after purchasing an additional 3,045 shares in the last quarter. Finally, Retirement Planning Group LLC bought a new stake in shares of Zillow Group in the 1st quarter worth approximately $270,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Trading Down 4.6%

Shares of NASDAQ:Z opened at $73.48 on Thursday. Zillow Group, Inc. has a 12 month low of $57.00 and a 12 month high of $93.88. The company has a 50-day moving average price of $83.39 and a 200 day moving average price of $74.07. The company has a market cap of $17.80 billion, a price-to-earnings ratio of -282.62, a PEG ratio of 21.46 and a beta of 2.13.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on Z. Mizuho raised Zillow Group to a “strong-buy” rating in a research report on Monday. Sanford C. Bernstein raised Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Wednesday, September 17th. Bank of America boosted their price target on Zillow Group from $81.00 to $88.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on Zillow Group from $79.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.38.

Insider Transactions at Zillow Group

In related news, insider Dan Spaulding sold 100,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.91, for a total value of $8,591,000.00. Following the completion of the transaction, the insider owned 68,889 shares of the company’s stock, valued at approximately $5,918,253.99. This trade represents a 59.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David A. Beitel sold 22,510 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the completion of the transaction, the chief technology officer directly owned 144,549 shares of the company’s stock, valued at approximately $13,149,622.53. The trade was a 13.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 657,087 shares of company stock worth $56,286,479 in the last quarter. Company insiders own 25.03% of the company’s stock.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.